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Global High Performance Plastic Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2024
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The major types of HPPs are fluoropolymers, high performance polyamides, polyphenylene sulfide, sulfone polymers, liquid crystal polymers, aromatic ketone polymers, and poly-imide. The fluoropolymers segment is expected to contribute highest revenue to the global market due to use of fluoropolymers in a number of application areas. The aromatic ketone polymers segment is estimated to grow at the highest CAGR, during the forecast period, in terms of value.
Asia Pacific is expected to be the major market for HPPs, during the forecast period. This market is expected to grow on the face of the growing electronics and automotive industries in the emerging markets of China and India. Moreover, the HPPs markets in North America and Europe are likely to excel due to growing industrial manufacturing base, advancing automotive industry and increasing electronics consumer goods. The growth of HPP market in Latin America and Middle East and Africa is estimated to be moderate due to slow growth of end-user industries in these regions.
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The high-performance plastics market is driven by increasing application in a wide range of industries on account of their superior thermal conductivity and anti-corrosive properties. High performance plastics (HPPs) are gaining interests due to excellent performance when exposed to high temperature and being highly reactive chemicals. These plastics offer high heat stability, chemical resistance, and mechanical strength. Although, high performance plastics account for a small share of the global plastics market, the demand for these plastics is expected to grow at a significant rate during the forecast period.
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